New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-01-28
CLOSING PRICES OF Bosrov srooKa
boston. ian ~ 1857


Neither time nor SPACE last evening permitted critical
analysis OF the NewYOrk Lake Erie and Western Rail-
roads statement for the quarter ended December 3D.
1886 The gross earnings of that quarter $500
greater than for the quarter Of 1885 and were
$ll26e40 greater than for the quarter Of 1884
But the amount charged operating expenses last
quarter were $33O035 greater than that for the
quarter of 1885, and greater than that charged
for the quarter OF 1884 because Of the increased
charges to operating expenses that the gain In
was only $l72,424 tho quarter Of 1888 and only
$508l6s tho quarter OF 1884 But II 10 we'll known
that large part Of the increase In operating
both 1885 and 1886 properly chargeabe against the
earnings OF preceding years when tho condition Of road
way and equipments WAS permitted to deteriorste, and
expenses necessary to bring the road up TO
frsclass standard Under tho old method Of tho COM
panys bookkeeping these delayed expenditures, made
ALL would be charged to the capital BY that
system the earnings Of the quarter ended December
81, 1885, would show gain over the same quarter
Of 1884 OF s1,126,s4o instead Of a gain Of
only $5o6,15s The operating expenses Of tho
last quarter 1884 per cent OF the
gross earnings and expected that for the succeeding
quarter-January l to March 3l-a continuance Of
pendures because Of past neglect to maintain the
dton Of the property, will roll the percentage up to
about the ratio But after that it is estimated that
the ratio Of expenses to earnings Will be reduced
below sixty per cent If the operating expenses Of the
last quarter had been sixty cent the net earnings for
the quarter would have been 81, SOY 60s instead Of
1912, l68 reported with the extraordinary expend
lures charged to operating expenses But without any
IFS or ands" the last quarters statements show the
following result:
Add quarter of annual average receipts from other
sources ZoOoOO
Total net for qnaIter; 50. 222 50
Balance Of net earnings s46i 3o4
h.1a rtu tvth md nj
the preferred stock and leaves surplus for the quar-
ter OF S341 900.
Forty thousand laborers in the city Of NewYork
strike regarded this morning ten strike for the
"bears" at the Stock Exchange And they opened the
stock market with liberal offerings sell ut figures rang
ing from q to per cent below last evenings closing
bids. With one or two exceptions the prices made be-
tween 10 o'clock and five minutes later were tho
lowest figures OF the day No seemed
to be panic stricken because Of the labor STRIKE
excepting those Spectators who. for than
thirty days have employed all the machinery known to
skilful stock manipulation 10 enable them to rec0up
stocks that were sold on December IA and 15 1886.
There Is not I'm the market an active and energetic
"bull element and such strength as the market does
their holdings During the last forty days the agitation
concerning the effects Of the Intersat" Commerce bill.
so@e prominent railway officials q the country;
the continuous cutting OF freight rates. which according
which II they had been true, would have had the rates
down now TO about mill per ton per mile; the con
tinued agitation OF u European war and the consequent
cOntn ued sales OF American securities In this market for
European account AMI finally gigantic" labor strike
I'm the metropolis OF the country which will require the
whole military force OF the state to suppress all these
things combined would have been sufficient 10 break
stock market wherein the stocks held
In speculative blocks after the fashion OF seven
or ten years ago. All these things have
happened been reported AMI their effects by bulletins.
been aggravated Ia the largest possible extent Aud
yet the stock market develops nothing more than the
ordinary fluctuations occasloned by the changing opn
ions OF board traders whether stocks are sale CT
purchase for per cent We do attenpt 10 explain
the situation only ~ relate The facts Today after the
first rush sell stocks for the short account there were
good prices and then succeedc duness and
ordinary fluctuations At about o'clock another raid
made upon values and prices sagged on but before
close the tendency again upward simply because
there nothing but phantom stocks offered In the mar
kct While prices lower than last evenings closing.
they are, with two exceptions. higher than the
prices OF the morning The total transactions OF the
day amounted only 10 2il 600 shares and the market
closed steady
Government bonds dull and easy with the bids for
the Is OF Is per cent. Annexed are the closing quota
tons: